Kazakhstan, Astana, July 3 / Trend D. Mukhtarov /
Kazakh Oil and Gas Company KazMunaiGas received a 100 percent stake in Company managing shares in the final production sharing agreement LLC, which owns 10 percent in the Karachaganak Petroleum Operating (KPO, developing Karachaganak field in Western Kazakhstan region) consortium, KazMunaiGas said on Tuesday.
Previously, contracting companies of Karachaganak field (BG Group, Eni, Chevron, Lukoil) gave 10 per cent in the Karachaganak Petroleum Operating consortium in favor of the Republic of Kazakhstan according to the "suspensive conditions" of Settlement Agreement signed on December 14, 2011.
The Republic of Kazakhstan handed over 10 percent in the Karachaganak Petroleum Operating consortium to newly established Company managing shares in the final production sharing agreement LLC which, in turn, was transferred to KazMunaiGas as the national oil and gas operator.
As a result of the agreement stake in the Karachaganak consortium are distributed as follows: BG Group (29.25 percent), ENI (29.25 percent), Chevron (18 percent), Lukoil (13.5 percent ) and KazMunaiGas (10 percent). Thus, KazMunaiGas will participate in the Karachaganak Petroleum Operating consortium, and will represent the interests of the Republic of Kazakhstan with the further development of the field.
KPO international consortium develops Karachaganak according to the PSA signed in 1997 for 40 years..
Karachaganak field is one of the world's largest fields, oil reserves amount to 1.2 billion tons, natural gas - 1.35 trillion cubic meters.
